5th Jun 2006 07:00
UMECO PLC05 June 2006 5 June 2006 UMECO PLC ACQUISITION OF AERODYNE ADVANCED COMPOSITES SUPPLIER OF ADVANCED COMPOSITES COMPONENTS FOR McLAREN AUTOMOTIVE UMECO plc ("UMECO"), an international provider of supply chain and repair andoverhaul services and advanced composite materials primarily to the aerospace &defence and automotive industries, announces the acquisition of the entireissued share capital of Aerodyne Advanced Composites (Proprietary) Limited("AAC") from Aerodyne Industries (Proprietary) Limited. The acquisition is being made through Advanced Composites Group Limited ("ACG"),a subsidiary of UMECO's Composites Division, and AAC will trade as AdvancedComposites Group SA (Pty) Limited with immediate effect. AAC, based in Cape Town, South Africa, employs around 130 staff and manufacturesadvanced composites component parts principally for McLaren Automotive. AAC has a contract with McLaren Automotive in relation to the sole supply ofspecified component parts to the Mercedes-Benz SLR McLaren super sports car. Thecontract is for the lifetime of the SLR programme and will form part of astrategic relationship between McLaren Automotive and ACG from which furtherbusiness is expected to materialise. The AAC business is highly complementary to ACG's materials business whichcurrently supplies McLaren Automotive and other high performance automotive andmotorsport customers including Koenigsegg, Porsche and Formula 1 racing teamsincluding Team McLaren Mercedes. UMECO's total initial investment in this project is estimated at £1.5 millionand conclusion of the acquisition is subject to the satisfactory completion ofall related legal proceedings. Clive Snowdon, Chief Executive of UMECO plc, commented: "The acquisition of AACcements our relationship with McLaren Automotive and further underlines ourposition as a leading supplier of advanced composites solutions to the new genreof super-cars. AAC will sit alongside ACG's existing composites engineeringbusiness to provide a low cost base to help demonstrate the use of compositesand their applicability within the mainstream automotive industry. Vehicletechnology is demanding lighter weight more cost-efficient designs and we arenow well positioned to support this growth area" - Ends- For further information, please contact: UMECO plcClive Snowdon, Chief Executive 01926 331800 Hogarth Partnership LtdJohn Olsen / Barnaby Fry 020 7357 9477 UMECO plc UMECO is a leading innovator in distribution, supply chain management and repairand overhaul services to the aerospace and defence industries, harnessing newmethods for enhancing its customers' performance and profitability. UMECO also has significant manufacturing interests in advanced compositematerials for a growing range of applications in its core aerospace and defencemarkets and in other high performance technology industries such as motor sport,automotive and wind energy. Listed on the London Stock Exchange, UMECO had turnover of £242.4 million in theyear to 31 March 2005. UMECO is managed through three divisions:- UMECO Components - a leading international provider of value-added distributionand supply chain outsourcing services to customers in the aerospace & defencemarket. With its specialisation in the supply of small components andsophisticated IT systems, its growing global customer base can enjoy significantoperational, cost and working capital benefits. Customers include Rolls-Royce plc, BAE SYSTEMS, Snecma Groupe, Parker Aerospace,Goodrich , Bombardier, Lockheed Martin and the US Department of Defense. UMECO Composites - a provider of a complete range of advanced compositematerials and specialist chemical products principally to the aerospace,motorsport, automotive and wind energy markets. A growing range of value-addedoutsourcing services is provided to major customers. Customers include Boeing, Airbus, BAE SYSTEMS, Goodrich Aerostructures, BritishAirways, Lufthansa Technik, a number of manufacturers of high performance supercars and Formula 1 teams including Team McLaren Mercedes. UMECO Repair and Overhaul - a provider of a comprehensive accessory repair andinstallation service to operators of fixed and rotary wing aircraft ranging insize from executive jets through to a Boeing 747. Customers include British Airways, KLM, Swiss, Alitalia Express, BristowHelicopters, BAE SYSTEMS, Saab Aircraft and Pratt & Whitney. McLaren Automotive McLaren Automotive was established in 1989 and is renowned for its expertise inengineering and manufacturing the most definitive super sports cars in theworld. From the beginning McLaren Automotive established its own unique approachto super sports car design, combining the most advanced engineering andtechnology from the world of Formula One together with an unparalleled attentionto detail, in the pursuit of the purest driving experience. Embodying thisphilosophy, the McLaren F1 established its own unique place in super car historyas the world's fastest production road car achieving a speed of 240.14 mph / 386kph - a title it held for seven years. Described by many as the finest drivers'car ever built, the McLaren F1 excelled both on the road and the race track. TheMcLaren F1 claimed victory on its debut at Le Mans 24 Heures in 1995, takingfour of the top five places, and its racing success continued with GTChampionship titles in 1995 and 1996. The legacy of the McLaren F1 demonstrateshow McLaren Automotive aims to set the standards that others follow. Today thisvision continues with the Mercedes-Benz SLR McLaren offering Formula Onetechnology and breathtaking performance with everyday levels of usability andcomfort. The Mercedes-Benz SLR McLaren is manufactured at the McLaren TechnologyCentre where every car is assembled by a team dedicated to producing the verybest super sports cars in the world. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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